Reinsurance Underwriting Authority Clause Samples

Reinsurance Underwriting Authority. General Agent shall have no reinsurance underwriting authority unless such authority is expressly authorized in writing by Company.

Reinsurance Underwriting Authority. The General Agent shall have no reinsurance underwriting authority unless such authority has been expressly authorized in writing by the Company. The Company has authorized the General Agent to bind or commit the Company to participation in ceded facultative reinsurance with reinsurers authorized by the Company in writing. The General Agent shall report such ceded facultative reinsurance in conjunction with paragraph E. above and in accordance with the form and content agreed to between the parties. The General Agent may collect payment from such authorized facultative reinsurers of the Company, but shall not commit the Company to any reinsurance settlement or commutation without prior written approval. The General Agent shall have no other reinsurance underwriting authority, either ceded or assumed, unless specifically authorized in writing by the Company.” All other terms and conditions shall remain unchanged otherwise. Amendment No. 2 to the Managing General Agency Agreement Originally Effective: January 1, 1993 This Amendment No. 2 to the Managing General Agency Agreement shall be executed and effective as of January 1, 1994. INSURED LLOYDS ATTEST: SOUTHERN COUNTY MUTUAL INSURANCE COMPANY REPUBLIC-VANGUARD INSURANCE COMPANY /s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ Its: Vice President ATTEST: TEXAS GENERAL AGENCY, INC. /s/ [ILLEGIBLE] By: /s/ [ILLEGIBLE] Its: Vice President It is understood and agreed to by the parties that the above named Agreement shall be amended as of July 1, 1997, as indicated herein for the name change of “Insured Lloyds” to “Republic Lloyds”. Paragraph “Parties” of the Agreement shall be replaced with the following: